TCR2 Therapeutics Inc (TCRR) Stock lost 2.74% on Friday, April 9, 2021, and closed at $22.02 per share. TCRR shares have gained 137.03% over the last 12 months, and they have moved down by -3.80% in the past week. Over the past three months, the stock has lost -26.53%, while over the past six months, it has added 4.11%.
Update about Gavo-cel Translational Data
On April 10, 2021, TCR2 Therapeutics Inc revealed the clinical and translational data from the dose-escalation portion of the Company’s Phase 1/2 clinical trial of gavo-cel.
The company is going to represent the data in an e poster at the American Association for Cancer Research (AACR) Virtual Annual Meeting which is taking place between April 9-14 2021.
Participation in the upcoming Healthcare Conference
On April 08, 2021, TCR2 Therapeutics Inc announced that it will participate virtually in the upcoming 20th Annual Needham Virtual Healthcare Conference on April 14, 2021, at 8:00 am E.T. TCRR is going to provide an update on Company progress
Commercial-Scale Cell Therapy Manufacturing Facility
On March 29, TCR2 Therapeutics Inc said that it has signed a long-term lease for an existing 85,000 square foot cell therapy manufacturing facility in Rockville Maryland.
The site will be used for the clinical and commercial production of gavo-cel with a capacity to treat several thousand cancer patients annually.
Recent financial results
On March 11, 2021, TCR2 Therapeutics announced financial results for the fourth quarter ended December 31, 2020.
- TCRR suffered a net loss of $67.1 million in 2020 compared to $47.6 million for 2019.
- TCR2 used$56.7 million net cash in operations for 2020 compared to $41.4 million for 2019.
- Research and development expenses were $52.0 million for 2020 compared to $37.5 million for 2019.
- It spent $16.7 million in general and administrative expenses for 2020 compared to $13.9 million for 2019.
- As of December 31, 2020, TCR2 had $228.0 million in cash, cash equivalents, and investments compared to $158.1 million as of December 31, 2019.
The TCRR stock has performed well in the recent past. The minor lost on Friday has no reason and we can expect it to gain more in near future.